Global-E Online Ltd. (NASDAQ:GLBE) Sees Significant Growth in Short Interest

Global-E Online Ltd. (NASDAQ:GLBE) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,280,000 shares, an increase of 20.2% from the February 28th total of 3,560,000 shares. Based on an average daily trading volume, of 1,630,000 shares, the short-interest ratio is currently 2.6 days. Currently, 4.2% of the shares of the company are sold short.

Global-E Online Stock Performance

Shares of GLBE stock traded down $5.12 on Thursday, reaching $32.36. 2,097,446 shares of the company were exchanged, compared to its average volume of 1,300,344. Global-E Online has a 1 year low of $28.11 and a 1 year high of $63.69. The business has a 50-day moving average price of $47.43 and a 200 day moving average price of $46.61. The company has a market cap of $5.32 billion, a price-to-earnings ratio of -73.55, a P/E/G ratio of 4.61 and a beta of 1.30.

Global-E Online (NASDAQ:GLBE) last released its earnings results on Wednesday, February 19th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. Global-E Online had a negative return on equity of 8.56% and a negative net margin of 10.04%. The business had revenue of $262.91 million for the quarter, compared to the consensus estimate of $250.96 million. During the same quarter last year, the business posted $0.22 earnings per share. The business’s quarterly revenue was up 41.8% compared to the same quarter last year. As a group, equities analysts anticipate that Global-E Online will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Global-E Online

Several hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP raised its holdings in Global-E Online by 3.5% in the 4th quarter. Wellington Management Group LLP now owns 923,051 shares of the company’s stock valued at $50,334,000 after acquiring an additional 31,019 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $1,180,000. Siemens Fonds Invest GmbH acquired a new stake in shares of Global-E Online in the fourth quarter valued at approximately $124,000. Polar Asset Management Partners Inc. purchased a new position in Global-E Online during the fourth quarter worth approximately $3,883,000. Finally, Mackenzie Financial Corp boosted its stake in Global-E Online by 7.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,740 shares of the company’s stock worth $368,000 after buying an additional 448 shares during the last quarter. 94.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Morgan Stanley raised shares of Global-E Online from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $55.00 to $46.00 in a research report on Wednesday, March 26th. Wells Fargo & Company decreased their target price on shares of Global-E Online from $60.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Piper Sandler upped their price target on shares of Global-E Online from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Monday, January 6th. The Goldman Sachs Group decreased their price objective on Global-E Online from $59.00 to $47.00 and set a “buy” rating for the company in a report on Wednesday. Finally, KeyCorp raised their target price on Global-E Online from $55.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Twelve analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $57.00.

Global-E Online Company Profile

Global-E Online Ltd., together with its subsidiaries, provides a platform to enable and accelerate direct-to-consumer cross-border e-commerce in Israel, the United Kingdom, the United States, and internationally. Its platform enables international shoppers to buy online and merchants to sell from, and to, worldwide.